Baidu may rise to 95.80 - 99.10

79.8 is our pivot point.

Our preference

Short term rebound towards 95.8.

Alternative scenario

The downside breakout of 79.8 would call for 74.5 and 71.3.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 86.3863 and 89.0589).

Supports and resistances

102.3 **

99.1 *

95.8 **

92.6

85.7 (USD-last)

81.9

79.8 **

74.5 *

71.3 **

Number of asterisks represents the strength of support and resistance levels.